Announcement of Tunisia Consultative Group on June 17, 1970

INTERNATIONAL BANK FOR • RECONSTRUCTION AND DEVELOPMENT 1818 H STREET, N.W., WASHINGTON D. C. 20433 TELEPHONE: EXECUTIVE 3-6360 June 17, 1970 Subject: Tunisia Consultative Group The following announcement was issued today at the World Bank's European Office in Paris: "A meeting of the Consultative Group on de"!~lopment assistance to Tunisia was held in Paris on June 16 and 17, 1970 under the chairmanship of the World Bank. The Group has been in existence since 1962 and met most recently in October 1969. Mem- bers of the Group attending the current meeting were Belgium, Canada, Denmark, Fin- land, France, Germany, Italy., Kuwait., Netherlands, Spain, Sweden, Switzerland, the United Kingdom, the United States, the International MonE:1ta1y Fund, and the United • Nations Development Progranme. Attending as observer, were representatives of the European Investment Bank, the Organisation for Economic Co-Operation and Develop- ntent--Development Assistance Committee, and the African Development Bank. The 'l\lnis:lan delegation was headed by His Excellency Chedly Ayari, former Sec~t:?tary of State for the Plan and recently named Minister of Education. "The Group discussed Tunisia's current economic situation, its plans for the future and ways in which members of the Group could contribute to Tunisian develop- ment, in the light of several documents prepared by the Tunisian Government and the Bank. The Group welcomed the proposed economic r -, 1\jcies. They were informed of the 0 changes in the organization of agricultural prod~~~lon, the new emphasis given to exports and the efforts made to establish contacts and, possibly, joint ventures between Tunisian firms and firms in the member countries. ''Members of the Group egpressed satisfaction with the recent progress made by Tunisia and concluded that Tunisia's performance and development prospects justi- fied continued assistance:. They recognized., h~.t51ever, tq,at Tuni.sia was facing serious debt and balance of payments problems, and urged·· that new foreign borrowing be on more extended terms and that aid continue to be made available on concessionary terms and, in appropriate cases, to finance local currency expenditures~ • "The Group agreed to meet aga'.in in May or June 1971." - 0 -